Cryptocurrency is currently in a bear market, and most coins have fallen sharply from recent highs. Dogecoin (DOGE 2.39%) and Shiba Inu (SHIB 2.98%), arguably the most famous meme coins, have had a particularly rough time. Dogecoin is down by 62% over the last six months, and Shiba Inu is down by 52% (as of March 29).
This may look like a buy-the-dip opportunity on two cryptocurrencies that still have some name value. Unfortunately, that’s about all they have to offer.
Image source: Getty Images.
Dogecoin and Shiba Inu aren’t carbon copies, but their stories over the last five years are similar. Both peaked in 2021 — Dogecoin in May and Shiba Inu in October. They fell off quickly, and each had some success again in 2024 and 2025 as the crypto market recovered and meme coins regained popularity. However, neither has come close to its all-time high, with Dogecoin having lost about 88% and Shiba Inu down 93%.
This is a common story with meme coins. If they can build enough hype, they have brief periods of success, but it doesn’t last because most buyers use them as a get-rich-quick scheme.
Today’s Change
(-2.39%) $-0.00
Current Price
$0.09
Key Data Points
Market Cap
$14B
Day’s Range
$0.09 – $0.09
52wk Range
$0.08 – $0.30
Volume
1.1B
If you’re going to invest in cryptocurrency, stick to coins with a real purpose, not those that started as jokes. Bitcoin (BTC 2.38%) is a good choice, since it’s the most proven cryptocurrency, having survived every bear market so far. Originally intended for use as a digital currency, it now mainly serves as a store of value, like a digital version of gold. Although Bitcoin and other serious crypto projects are still risky, you’re far more likely to be successful buying those compared to buying Dogecoin, Shiba Inu, or one of the many other meme coins on the market.
Lyle Daly has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
